Tiger Portfolio has $150 mil for China
EmptyIf you follow the money, a lot more of it in these tricky times is targeted for Asian movies.
To wit, a $150 million private-equity fund targeting Chinese movies was unveiled here Monday — a move that underlines the contrasting financing fortunes of European and Asian filmmakers.
The Tiger Portfolio Film Fund is backed by Tiger8 Media and Wuxi Jinyuan Industry and Development, a Chinese investment group, and allied with Switzerland-U.K.-Los Angeles sales agent Omega Entertainment.
The fund's promoters said the venture will open offices in China and Los Angeles and expects to attract Chinese, American and international projects. The fund boasts all the bells and whistles: equity, mezzanine and debt financing, provided by Chinese, European and Middle Eastern investors.
"We are pleased to have found our Chinese partner in Wuxi, who is backed by full government support," Omega's Markus Barmettler said.
TPF, Omega and Warner Bros. are in final negotiations on the fund's first picture.
Omega will handle international sales on the fund's first slate, which will be announced before AFM in November; Standard Chartered Bank Hong Kong is providing contract factoring and a debt facility for the fund. (partialdiff)